Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1887-07-12
Growing Wealth.
IN. Y. Tribune. I


If it is true, as capable journals in differ
ent trades have represented, that about 500
600. 900 has been spent during six months il
building railroads, fully as much mere in de
veloping mines and manufactures in fourteen
| southern States exclusive of the cost of build
ings probably at least as large sum in
the Remaining States with double the popula
ton, and about s4OO, 600, 900 in buildings
during the same SIX mouths, where has
this vast SUN money come from? About
s6i, 600 600 Of the 3 per cent. bonds have
been redeemed since January LIST, and the
money collected by duties and paid to bond
holders may have been invested in improve
ments. But that is not a large part of the
sum required. The statistics of foreign
trade indicate that a considerable sum may
have been transferred to this side by foreign
capitalists, but at the utmOsl this cannot
have been more than about $50, 10000
1t is commonly reasoned that the produc-
ton of wealth. in excess of the consumption,
can be applied to building, railway construc-
ton, the opening of mines and the establish
ment of manufactures, and other forms of
development. In a time of anusual prosper
ny the production of wealth is greater than
usual, and so the sum applicable to improve
ment is greater. But the fact must not be
overlooked that exp mixtures are also swelled
in time of great prosperity. Liquors and
wines, laces and silks, yachts, fast horses and
SNOWY equipages, all take more money from
those who are making money fast than from
the same classes when business is depressed
and speculation dull.
Mr. Mulhall, the English statisticisn, pub
lished as the result Of his investig atoms some
years ago that this country was adding to its
wealth yearly about rs much as Great Britain,
France and G rmany combined, as follows ::
Germany, 5000 600, 900 yearly, France $50
900, 900 yearly, and Great Britain 1926 000,-
600 yearly the United States 1915, 100000
But the Census Bureau, AS the result of its
investigation regarding the true wealth of the
country In 1870 and 1880, reported that the
actual increase has been from $50, 06S, 900, 900
to S43 642, 900, 900, or 81 357 100000 yearly
for ter years. Part of this represents the
added value of land and buildings, but only
50, l22 600, 900 of the increase was in tine
assessed value of real estat-. and the increase
here includes buildings, whether for resi-
dence, commercial or indu strial purposes.
If these returns are correci, the actual in
crease in wealth, apart from the rise in val
ues of real estate. was over 81 900 200. 900
yearly for ten years
There has been progressive increase also,
larger in the later years than in the earlier
period. 1t should be larger now. seven years
later, than it was in 1880. Hence it would
not be entirely unreasonable, but for the ex-
traordinary and luxurious waste of prosper
Gus years, to estimate that $500, 600, 900 might
be applied from the profits or accumulstions
of single half year to permanent forms of
improvement. 1t startles one to consider
that, in spite of all the luxury that is wit
messed, and in spite of all the slow and slen-
der gains of the people in many parts of the
country, the Nation may nevertheless be add
ing yearly thousand millions to its wealth.
But while waste and luxury have increased,
it may with some reason be doubted whethrr
these have grown faster than the productive
industries by which they are supported.